Slide 1: TXT e-Solutions Corporate Overview
TXT e-Solutions Corporate Overview March 2019
Slide 2: Disclaimer
Disclaimer The material in this presentation has been prepared by TXT e-solutions (“TXT”) and is general background information about TXT’s activities current as at the date of this presentation. This information is given in summary form and does not purport to be complete. Information in this prese
Slide 3: Historical Performance of TXT
Historical Performance of TXT Revenues (m€) EBITDA (m€) 45 5,0 40,0 40 4,5 35,9 33,1 4,0 3,8 3,8 35 3,5 3,5 30 24,9 +11% 3,0 25 21,8 20,9 +8% 2,5 +33% 10% 20 2,0 10% +14 % 2,0 1,7 11% 15 +5 % 1,3 1,5 8.2% +4 % 7.9% 10 1,0 6.4% 5 0,5 0 0,0 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 3
Slide 4: Two Business Divisions, with an Industry Focus: Key Facts & Figures
Two Business Divisions, with an Industry Focus: Key Facts & Figures International provider of High-tech Software Solutions & Services to Global Aerospace, Aviation & Automotive Industry Software Aerospace 16% & Aviation Services 84% Revenues Revenues breakdown EBITDA: 11.7% Team: 379 pp 2018: 31.1 m
Slide 5: Aerospace, Aviation & Automotive
Aerospace, Aviation & Automotive 5
Slide 6: Mission & Markets
Mission & Markets An international, specialized provider of software solutions (software Products and engineering Services) supporting customers in their mission-critical core processes and throughout their product lifecycles. Aerospace & Aviation Automotive & Transport Product development, on-board
Slide 7: Key Facts & Figures
Key Facts & Figures 9 LOCATIONS WORLDWIDE Seattle Revenue breakdown by geography Amsterdam D USA F 350+ SPECIALIZED Berlin UK 8% 10% 7% 11% Other 4% ENGINEERS Bristol Munich NL 5% Stans Italy 55% Toulouse Milan Turin 30+ YEARS EXPERIENCE € 31m 7
Slide 8: A Longstanding, Global Customer Base across the Industry Value Chain
A Longstanding, Global Customer Base across the Industry Value Chain • A diversified Customer Base of Industry Leaders • Long-term partnership underpinning highly repeatable and growing revenues streams • A growing number of new, high-potential int’l customers in recent years • A significant up-sell
Slide 9: What We Do - Value Proposition Spanning the Entire Product Life-cycle
What We Do - Value Proposition Spanning the Entire Product Life-cycle • Breadth and Depth: focus on high-value niches, but understand the whole picture • Industry & Technology expertise: a growing array of Software Assets backed by Engineering Services • Flexible engagements models, with turn-Key se
Slide 10: How We Do It – An Expanding Set of Flexible Engagement Models
How We Do It – An Expanding Set of Flexible Engagement Models Turn-Key service engagements weight ¾ of the total, while Time & Material account for the remaining ¼ Custom Projects Software & Data Creation & Functional On-site Managed System & Maintenance Extension to Consultancy Services Integration
Slide 11: A Large Market with a Solid, Steady Growth over the Long Run (1)
A Large Market with a Solid, Steady Growth over the Long Run (1) 4 billion passengers flown in 2017 (3 billion in 2013); traffic will double every 15 years (source: ICAO, Airbus GMF 2018) 37.390 new aircrafts to More than 2 million new pilots, cabin Investments in excess to 140 b$ in design/upgrade,
Slide 12: A Large Market with a Solid, Steady Growth over the Long Run (2)
A Large Market with a Solid, Steady Growth over the Long Run (2) Civil & Para-public Helicopters Market set to growth, Military Aircrafts Market set to growth in the next 5 with 22.000 new deliveries in the next 20 years, years, driven by new programmes aiming to develop worth a total of 125 € billi
Slide 13: From Software Products to Engineering Services: An Opportunity to Drive Growth
From Software Products to Engineering Services: An Opportunity to Drive Growth Aerospace & Aviation: global groups, with Engineering Solutions & Service Market is Europe accounts for major market share high speed of innovation and sustained worth 130 bn€; Aerospace & Automotive R&D / Engineering spe
Slide 14: A Strong Competitive Position, Recognised by Old & New Customers
A Strong Competitive Position, Recognised by Old & New Customers A unique spectrum of specialized high-value niches across the entire Product Life-Cycle: by leveraging on a growing portfolio of software products, TXT differentiates from local & global Engineering Service competitors • Small, Local P
Slide 15: Strong Position of TXT to Capture the Market Opportunity (1)
Strong Position of TXT to Capture the Market Opportunity (1) 30 Years experience & unique software products, underpinned by strong innovation drive, make TXT different Preliminary Design On-board Software Product Configuration Digital Manufacturing Training & Simulation Flight Operations 30 years ex
Slide 16: Strong Position of TXT to Capture the Market Opportunity (2)
Strong Position of TXT to Capture the Market Opportunity (2) Main Short/Mid-term Revenues growth opportunities & Margin Improvement levers Preliminary Design On-board Software Product Configuration Digital Manufacturing Training & Simulation Flight Operations CUSTOMER ENGINEERING & AIRCRAFT DESIGN &
Slide 17: Growth Strategy - Highlights
Growth Strategy - Highlights Providing the perfect mix of: • specialization in multiple niches across our target industries value chain • ability to serve customers locally, yet on a global scale • Software Products and Engineering Services 17
Slide 18: Growth Strategy – Main Growth Initiatives
Growth Strategy – Main Growth Initiatives Solid Foundations Identified Growth Initiatives To become an Int’l, specialized, multi-niche, • Solid Management Team with a mid-sized (100 m€) provider of Engineering “Solutions” track record in self-sustainable serving the global Aerospace & Aviation Indus
Slide 19: Fintech
Fintech
Slide 20: Mission, Markets & Growth Strategy
Mission, Markets & Growth Strategy Provider of specialised Services and Software supporting customers in Banking & Finance market along their business-critical processes and their Digital Transformation journey Banking & Finance Software Quality Services Strengthen the M&A & offer of RPA – Robotic P
Slide 21: Software Quality Services
Software Quality Services • Since 15 years focused on Software Quality and on Independent Testing, Verification & Validation of software, to ensure the functioning, functional fit, and compliance of IT systems Test Test Test Execution Defect Test Test Management Release Strategy Development Test Aut
Slide 22: Financing, Credit & NPL Management
Financing, Credit & NPL Management Acquired last July CHELEO: • Market: Financial Institutions, Banks and NPL Servicers • Offering: a comprehensive & competitive suite of software modules supporting the management of financing products across their entire life-cycle: – Issuing (Leasing, Loans, Facto
Slide 23: Summary & Financial Details
Summary & Financial Details 23
Slide 24: Full Year 2018
Full Year 2018 € thousand 2018 % 2017 % Var % REVENUES 39.957 100,0 35.852 100,0 11,4 Direct costs 22.289 55,8 20.224 56,4 10,2 GROSS MARGIN 17.668 44,2 15.628 43,6 13,1 Research and Development costs 2.990 7,5 2.481 6,9 20,5 Commercial costs 5.603 14,0 5.066 14,1 10,6 General and Administrative cos
Slide 25: Strong Balance Structure
Strong Balance Structure Total of which of which TXT of which € thousand 31.12.2018 31.12.2017 variance Cheleo Risk Sol. TXT Intangible assets 17.751 7.332 10.419 9.241 1.700 (522) Tangible assets 3.680 793 2.887 79 1 2.807 Other fixed assets 1.511 735 776 0 0 776 Fixed Assets 22.942 8.860 14.082 9.
Slide 26: Dividends & Shareholder's Return 2011-2019
Dividends & Shareholder‘s Return 2011-2019 • Dividends • 2011: 1 € /share (extraordinary, rebased) • 2012: Free Share Distribution 1:1 • 2013: 0.20 € /share (rebased) • 2014: Free Share Distribution 1:1 • 2014: 0.25 € / share • 2015: Free Share Distribution 1:10 • 2015: 0.25 € / share • 2016: 0.25 €
Slide 27: TXT Market Capitalization (m€)
TXT Market Capitalization (m€) Free share distribution 1:10 Free share distribution 1:1 Free share Dividend 11.7m€ distribution 1:1 Dividend 3.5m€ Dividend 2.9m€ Dividend 2.7m€ Dividend 2.6m€ Dividend 2.1m€ Dividend 10.3m€ Updated to March 2019
Slide 28: Shareholding Structure – March 2019
Shareholding Structure – March 2019 A. Braga Illa Managers 14,0% 4,9% Laserline SpA 25,6% Market 44,6% Treasury Shares 10,9% 28